This article analyzes the extent to which fiscal policy has contributed to the industrialization of Spain over the last two centuries. Spanish governments have traditionally placed excessive emphasis on policies of economic regulation but at the same time, they have failed to provide a suitable level of merit and public goods. Recurrent budget deficits were always financed by inflationary means, which did nothing to promote economic growth. In clear contrast with public expenditures, the system of taxation which prevailed until 1978, meant that there was not much of a tax burden. This allowed for a level of savings, and potential investment, which was conducive to industrialization.

The policy of strict regulation followed by the state, accounts for the unsuccessful performance of the Spanish economy after the 1936–39 Civil War. Despite the emphasis on industrial growth of the new political regime, few manufacturing sectors attained a successful performance. This paper shows the effects of the Spanish autarchic policy on the shoe-making industry, a representative branch of consumer goods industries. Demand, production, technology and entrepreneurial attitudes are analyzed in connection with the intervention of the state.

Big sheep owners played a key role in nomadic sheeprearing in the Spanish region around Soria during the xvth. and xvith. centuries. By using the volume of wool sales, the author compares the size of their flocks with those of other middle and small owners in the region and analyzes the owners' sociopolitical profile, in order to qualify traditional hypotheses about the social basis of the «Mesta» and its evolution during the xvith. century. Lastly, some aspects of the management of sheeprearing enterprises are examined, and its factors identified. In particular, the analyses focuses on those aspects of sheeprearing that made big enterprises more profitable than small ones.

From a little known but very useful source, the «excusado», I have determined the production volume and the surplus obtained from a wide sample of large farms in the Spanish region of Galicia during xviiith century. The main conclusion is that, in contrast to other regions in northern Spain, no group of large farmers with a marketable surplus was formed, and most peasant farmers lived below subsistance levels. I argue that this was a major factor in hindering the modernization of Galician agriculture during the xixth century.

A vigorous Spanish wool manufacturing industry during die Ancient Regime coexisted with an active export trade of raw wool from Castile. While foreign producers exhibited a clear comparative advantage on high quality fabrics, specialization in medium and low quality goods allowed Castilian wool textile producers to successfully compete against European imports (many of diem made with Castilian wool) up to the XlXth century.